Federated Hermes Inc. Buys 3,732 Shares of Martin Marietta Materials, Inc. $MLM

Federated Hermes Inc. increased its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 4.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 94,470 shares of the construction company’s stock after buying an additional 3,732 shares during the period. Federated Hermes Inc.’s holdings in Martin Marietta Materials were worth $59,543,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Quent Capital LLC bought a new position in shares of Martin Marietta Materials during the 3rd quarter valued at $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Martin Marietta Materials during the second quarter valued at $28,000. Grey Fox Wealth Advisors LLC purchased a new stake in Martin Marietta Materials during the third quarter valued at $33,000. NewSquare Capital LLC lifted its holdings in Martin Marietta Materials by 62.2% in the second quarter. NewSquare Capital LLC now owns 60 shares of the construction company’s stock valued at $33,000 after acquiring an additional 23 shares during the period. Finally, Clearstead Trust LLC boosted its position in Martin Marietta Materials by 93.8% in the second quarter. Clearstead Trust LLC now owns 62 shares of the construction company’s stock worth $34,000 after purchasing an additional 30 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Martin Marietta Materials Stock Performance

MLM opened at $652.22 on Friday. The company has a 50 day simple moving average of $634.03 and a two-hundred day simple moving average of $617.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.07. The firm has a market cap of $39.34 billion, a P/E ratio of 34.38 and a beta of 1.15. Martin Marietta Materials, Inc. has a 1-year low of $441.95 and a 1-year high of $668.83.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Tuesday, November 4th. The construction company reported $5.97 earnings per share for the quarter, missing the consensus estimate of $6.62 by ($0.65). Martin Marietta Materials had a return on equity of 11.68% and a net margin of 17.34%.The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $2.06 billion. Equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, December 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 17.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup upped their price target on shares of Martin Marietta Materials from $754.00 to $758.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. B. Riley initiated coverage on shares of Martin Marietta Materials in a research report on Thursday, January 15th. They set a “neutral” rating and a $700.00 target price for the company. Raymond James Financial upped their target price on shares of Martin Marietta Materials from $645.00 to $680.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Stifel Nicolaus lifted their price target on shares of Martin Marietta Materials from $637.00 to $681.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Finally, Loop Capital lowered Martin Marietta Materials from a “buy” rating to a “hold” rating and set a $690.00 price objective for the company. in a research note on Wednesday. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Martin Marietta Materials has a consensus rating of “Moderate Buy” and a consensus target price of $676.63.

About Martin Marietta Materials

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.